Innovative animal vaccines and biological control product development are to be the focus of the upcoming 10th annual BioTaiwan Committee conference, according to the Cabinet’s Board of Science and Technology Sept. 19.
“Taiwan’s agricultural biotechnology industry generated NT$8 billion (US$264.7 million) in revenues last year, showing tremendous potential for exponential growth going forward,” said Chiang Been-huang, minister without portfolio and BOST convener.
“The government will work toward enhancing Taiwan’s biotech footprint worldwide by accelerating development of the Pingtung Agricultural Biotechnology Park in southern Taiwan and forming strategic alliances with international enterprises.”
In addition to advancing the agricultural biotech development, Chiang said the conference is set to review results of past initiatives such as the Taiwan Biotechnology Take-off Diamond Action Plan, and look ahead to practical applications in such areas as biomedical services and long-term health care.
According to Taipei City-based research organisation Development Center for Biotechnology, Taiwan’s agricultural biotech industry is expected to continue the momentum seen in recent years. Overall revenue is projected to reach NT$11.3 billion by 2018, posting a compound annual growth rate of 6.5 per cent during this period.
Among major segments of the industry, Taiwan bio-fertiliser manufacturers have seen particularly strong sales on the back of organic agriculture, with revenue growth peaking at 23.1 per cent over the years.
“Animal vaccine revenues also recorded 15.5 per cent increase over the preceding year boosted by robust development of local firms such as Reber Genetics Co. Ltd.,” the DCB said.
